Specialty Cars . If you plan to flip your first car quickly, you’ll probably want to stay away from rare, uncommon, exotic, or specialty vehicles like limos, buses, sports cars, and classic cars. Specialty vehicles have a lower number of potential buyers, which means they may take much longer to sell.
Flipping cars is illegal! To buy and sell cars, for profit, without a dealer license, is illegal in EVERY state. States MAY allow a small number of sales without a license. This is usually 3-6 in a 12 month period. Check your state’s requirements!!!!! Many states set the number at absolute ZERO.
Once you get good at flipping cars, there is no reason why you shouldn’t be able to flip four to five cars per week. At this point you would need your dealer’s license. With you dealer’s license you could, for example, make $700 per car, and average four cars per week.
Welcome to The Car Flip. Check the videos, podcast, articles and other helpful content to learn how to flip cars for profit. My name's Justin Carper, a part-time car-flipper turned used car dealer. My goal is to teach the art of buying and selling cars for profit to anyone from the beginner to the regular dealer.
For instance, in California you can own up to 5 cars in a year. So if you desire to flip more cars but your state allows only 5 then what you can do is put other cars in your friends’ or spouse’s name. If you are looking to flip cars in bulk like 20 to 30 at a time then you may have to get a dealer’s license.
So, step by step... 1.) Find a good vehicle to resell. Look through the local classifieds, online and even just driving around. 2.) Do a little research.
Finding and buying a car at a great deal: I typically don’t spend more than $4,000 on any car that I purchase to flip, but I’ve purchased a few cars for less than $400. 2. Repairing any cosmetic or mechanical issues and cleaning the car: For some cars, this is just a simple car wash.
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Flipping cars for profit is definitely one of the most profitable ways to make money outside of flipping houses. The investment is a little higher than what most people are comfortable with but the rewards make it well worth it.
Here’s how to flip cars on Craigslist. First of all, if you don’t know what flipping cars means, it means that you are selling a car for a higher price than you bought it (think car dealer). Does this actually work?